October 26, 2023 – 2X Global is delighted to announce the selection of Kuramo Capital Management LLC
(“Kuramo”) as the manager for the 2X Ignite Africa Investment Facility for Warehousing Capital (“2XI
Africa Warehousing Facility” or the “Facility”).
The 2XI Africa Warehousing Facility is one of the strategic initiatives created by 2X Global to support
female-led/gender-balanced fund managers with gender lens investing strategies in Africa in their
fundraising. The Facility will provide portfolio building capital to eligible fund managers to utilise in
warehousing deals and enable them to build a track record while fundraising, thereby improving their
chances for a successful fundraise.
Kuramo is a leading sub-Saharan Africa-focused investment management firm with a diversified
platform that includes investments in primary funds, direct/co-investments, and managed solutions.
Over the last decade, the firm has championed the growth and expansion of the private investments
landscape in sub-Saharan Africa (SSA) by catalysing commercial capital to first-time sub-Saharan Africa
funds and investing in exciting and innovative growth opportunities. To date, Kuramo has catalysed over
$3 billion to SSA firms that have tremendous positive impact on the local communities.
With women-led funds and businesses experiencing significant challenges, especially with access to
critical funding sources, Kuramo is bringing its pioneering spirit and expertise to addressing gender
equality in Africa’s private equity and venture capital landscape.
Jessica Espinoza, CEO of 2X Global said:
“We are excited to partner with Kuramo on the 2X Ignite Africa facility, building on their legacy to
address financing asymmetries on the African continent. We are confident our much needed and
innovative 2X Ignite mandate, getting female- and diverse-led fund managers investing with a gender
lens to a first close faster, will be in very capable and experienced hands with the Kuramo team and we
are thrilled to be working alongside them on this joint journey.”
Investment Director of the 2XI Africa Warehousing Facility at Kuramo, Nike Ogunjimi added:
“It is such an exciting time in the gender lens investing space, and we look forward to being a part of the
positive shift that the Facility will bring to the investing landscape in Africa”.
Wale Adeosun, Kuramo Capital Founder & CEO, said they looked forward to helping remove one of the
barriers facing women and gender diverse fund managers, stating:
“We are thrilled to be given the opportunity to be a part of the solution to one of the key bottlenecks
that female/gender-smart fund managers face in their fundraising journey. First-time female fund
managers are typically expected to show a track record of successful deals to secure funding from
prospective LPs – this results in a vicious cycle because they are unable to obtain the funds required to
secure the deals that create the track record they need to demonstrate. The 2XI Africa Warehousing
Facility will solve this problem for a number of funds and we are positive that this will result in more
female fund managers with gender-smart investing strategies emerging across the continent.
We are very excited to be partnering with 2X Global on this ground-breaking initiative which will
promote inclusive economic empowerment across Africa by capturing the opportunity from 50% of our
population through women-led businesses and women-led funds.”
SOURCE: 2x Global